Liverpool fintech business vast:visibility sells strategic stake to European PE firm

vast:visibility, a provider of custom software for the online price comparison marketplace, has sold a strategic stake in the business to European private equity group HgCapital.

The Liverpool-based firm creates the tech underpinning insurance quote aggregators from a number of brands in the financial services industry, including Confused.com, Admiral, The Bike Insurer, The Van Insurer, mustard.co.uk, Autotrader, Asda and MCN.

vast:visibility said these companies and others drive up conversion rates and deliver a superior customer experience through its custom-built software, which combines data collection and user behaviour tools with high-level data security.

The investment from HgCapital forms part of a platform of UK general insurance investing initiated by HgCapital through its 2015 acquisition of A-Plan Insurance.

HgCapital has a track record of investing in financial technology through its ownership of several firms serving the European insurance and asset management market, including Sequel Business Solutions, Relay Software and Intelliflo.

vast:visibility chairman Max Carruthers commented; “This investment is another significant step forward for the business and follows hot on the heels of Jon Morrell’s recruitment in September as the company’s new CEO.

“The investment will further enhance the business’ capability to deliver not only the core aggregation journeys that it has been commended for but also an exciting suite of innovative digital solutions including data enrichment, analytics, fraud detection and advertising platforms to the wider market.”

He added: “vast:visibility will continue to drive technology-led efficiency within the insurance sector, improving both user experience and insurer operations.”

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